The purchase is set for $96 million, and gives Jupitermedia a much needed cash infusion, as their stock has lost more than 95% of its value over the last eight years, and not insignificant percentages of their remaining value over the last several weeks.
We've covered the exploits of Getty extensively over the years here at Mashable, because in addition to being the largest player in the world in providing content to both new and old media producers, they've also been a consistently quiet but persistent player in the Web 2.0 world. They've started up Web 2.0 divisions of their own as well as become a purchaser for other startups looking for an exit.
Getty is no stranger to buying out Web 2.0 companies, themselves, having purchased Pump Audio last summer, and bought Scoopt about a year ago. They’re solidly in the music and citizen journalism business with both acquisitions, and they're a solid friend to the independent and freelance journalist with [img src="http://sale-online.click/wp-content/uploads/2007/03/pumpaudiologo.png" caption="" credit="" alt=""]their wire service (try hitting up any red carpet event without running into a Getty photographer).